Interesting story - not sure if I agree. Print more money, simulate more debt with people who cannot afford to buy houses or should keep the existing one.
==== Article ====
The government's efforts to prop up the ailing housing market don't go far enough and as a result are unlikely to yield a full-fledged turnaround, say industry players and analysts.
Thus far, the emphasis -- and money -- has been on stemming foreclosures, which appeals to both Republicans and Democrats alike, partly because it is tied to another voter-sensitive issue—unemployment.
Still, critics say the government will need to do more to halt the decline in both home prices and sales.
“It’s a whole lot of noise,” says Melissa Cohn, founder of The Manhattan Mortgage Company, who says the Obama initiatives on foreclosures "do nothing whatsoever for people who are purchasing.”
In addition, the Obama administration initiatives have fallen well sort of expectations in some quarters, both for what they do and what they don’t do.
Read more...
"U.S. rescue efforts may risk double-dip recession" - read here...
Cheers
marc
==== Article ====
The government's efforts to prop up the ailing housing market don't go far enough and as a result are unlikely to yield a full-fledged turnaround, say industry players and analysts.
Thus far, the emphasis -- and money -- has been on stemming foreclosures, which appeals to both Republicans and Democrats alike, partly because it is tied to another voter-sensitive issue—unemployment.
Still, critics say the government will need to do more to halt the decline in both home prices and sales.
“It’s a whole lot of noise,” says Melissa Cohn, founder of The Manhattan Mortgage Company, who says the Obama initiatives on foreclosures "do nothing whatsoever for people who are purchasing.”
In addition, the Obama administration initiatives have fallen well sort of expectations in some quarters, both for what they do and what they don’t do.
Read more...
"U.S. rescue efforts may risk double-dip recession" - read here...
Cheers
marc